Right now the tick data is yet again at oversold levels, and we shall see a rally in globex or open hours I think.
Dow Jones Transports chart.
Take a look at the Dow Jones Transports chart and have a look at the very nice upwards channel we are in. This is proof that the bulls are still alive and well. As we have been saying for months, we are still in buy the dip mentality, which has not only been correct, but a smart thing to do since the start of 2013.
Looking at the Dow Jones Transports chart we seem to think higher prices are coming.
|dow jones transports chart|